Author Topic: Buffett/Berkshire - general news  (Read 494910 times)

longinvestor

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Re: Buffett/Berkshire - general news
« Reply #90 on: March 31, 2015, 12:45:10 PM »
Buffett on CNBC today



Buffett's automotive group goes shopping
http://www.cnbc.com/id/102549930

Larry Van Tuyl: We like volume dealers that fit our entrepreneurial model
Buffett: They'd have to come to us

The phone's ringing off the hook.


longinvestor

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Re: Buffett/Berkshire - general news
« Reply #91 on: April 28, 2015, 04:56:49 PM »
Is something up with Netjets?

This from the visitor's guide:

 Please Note: Shuttle Service is no longer provided to Eppley Airfield. Also there will not be a
NetJets Display at Signature Flight Support this year and therefore no shuttle provided to
Signature Flight Support.


And no mention about fly coach in and your own private plane out......

I've been subscribing to the WSJ for about 6 months and caught the ads( 2 or 3 times?)  by the Netjets union. And this recent union news,
http://money.cnn.com/news/newsfeeds/articles/prnewswire/DC90735.htm
« Last Edit: April 28, 2015, 05:01:39 PM by longinvestor »

Jurgis

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Re: Buffett/Berkshire - general news
« Reply #92 on: April 28, 2015, 09:07:29 PM »
Wow, it looks like NetJets continues to be a headache for Buffett.

I wonder if he's gonna throw Tracy at the problem and if she's gonna succeed in solving it somehow...
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sleepydragon

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Re: Buffett/Berkshire - general news
« Reply #93 on: April 29, 2015, 08:39:06 PM »

petec

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Re: Buffett/Berkshire - general news
« Reply #94 on: April 30, 2015, 01:22:41 AM »
Quote
"The billionaire businessman also dismissed the notion of an near-term takeover of self-driving cars, saying he thought "I think it's a long way off and I don't think everybody will adopt it." He said that he would bet there is less than a 10 percent penetration rate for self-driving cars by 2030."

I will take that bet.

Me too.   I think the adoption rate will be steep.   I'll buy one asap and I'm not an early adopter.   Technological breakthroughs are usually incremental; this is a big leap in productivity, like touch-screens.   

I wonder how much he's prepared to bet? ;)

petec

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Re: Buffett/Berkshire - general news
« Reply #95 on: April 30, 2015, 01:31:22 AM »
^To be fair, WEB does have a weakness for young, attractive blondes...

I think itís much more likely that she got lucky.  She canít have been the first woman to try.  He may have started to realize just at that time that he needed more help for some of these things.

To be fair, consider this: she was a new MBA graduate in 2009. During the summer of 2008, she had internship with Lehman Brothers, Bank of America, and 85 Broad (85 Broad is a None-profit organization founded by Women MDs/Partners at Goldman sachs). In 2008, every banks was firing people, nobody was hired. Lehman bankrupted. Yet, she got 3 jobs. And she had no real world work experience, especially in finance(before MBA, she was an undergraduate at harvard). After graduation, she got a job with Warren Buffet when I think she could be the only person in her MBA class who got a job.

Let me be clear: I have no doubt sheís good.  Very good.  But clearly inexperienced.  What I mean by luck is that surely many many people along the years, some of whom may have been objectively better (though thatís very difficult to actually measure) would have gotten turned down.  Thatís life.  All of us who have been successful have some measure of luck, though we may do our best to tilt the odds in our favor.

Then again, 3G have made their success by putting very young people in positions of serious responsibility.   If they're good enough, it works brilliantly.

rpadebet

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Re: Buffett/Berkshire - general news
« Reply #96 on: April 30, 2015, 05:49:59 AM »
Quote
"The billionaire businessman also dismissed the notion of an near-term takeover of self-driving cars, saying he thought "I think it's a long way off and I don't think everybody will adopt it." He said that he would bet there is less than a 10 percent penetration rate for self-driving cars by 2030."

I will take that bet.

Me too.   I think the adoption rate will be steep.   I'll buy one asap and I'm not an early adopter.   Technological breakthroughs are usually incremental; this is a big leap in productivity, like touch-screens.   

I wonder how much he's prepared to bet? ;)

Consumer adoption wont be a problem. But I see regulation being a major roadblock. Imagine the complexity of allowing some self driving cars with other mostly regular cars... there will be all sorts of debates on safety,control and hacking etc. All it would take is one bad accident involving a self driving car (and we know initial softwares can be buggy) and it would immediately slow down everything.
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longinvestor

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Re: Buffett/Berkshire - general news
« Reply #97 on: April 30, 2015, 06:20:46 AM »
Quote
"The billionaire businessman also dismissed the notion of an near-term takeover of self-driving cars, saying he thought "I think it's a long way off and I don't think everybody will adopt it." He said that he would bet there is less than a 10 percent penetration rate for self-driving cars by 2030."

I will take that bet.

Me too.   I think the adoption rate will be steep.   I'll buy one asap and I'm not an early adopter.   Technological breakthroughs are usually incremental; this is a big leap in productivity, like touch-screens.   

I wonder how much he's prepared to bet? ;)

Consumer adoption wont be a problem. But I see regulation being a major roadblock. Imagine the complexity of allowing some self driving cars with other mostly regular cars... there will be all sorts of debates on safety,control and hacking etc. All it would take is one bad accident involving a self driving car (and we know initial softwares can be buggy) and it would immediately slow down everything.

Agree, disasters in the making. A great parallel to this was when the wall came down in Germany. Trabants/Wartburgs and Porsche/BMW's driving alongside on the Autobahns post-reunification was disastrous. Between safety, the required near 100% reliability and infrastructural changes, this is a long tail event.

petec

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Re: Buffett/Berkshire - general news
« Reply #98 on: April 30, 2015, 06:33:47 AM »
Quote
"The billionaire businessman also dismissed the notion of an near-term takeover of self-driving cars, saying he thought "I think it's a long way off and I don't think everybody will adopt it." He said that he would bet there is less than a 10 percent penetration rate for self-driving cars by 2030."

I will take that bet.

Me too.   I think the adoption rate will be steep.   I'll buy one asap and I'm not an early adopter.   Technological breakthroughs are usually incremental; this is a big leap in productivity, like touch-screens.   

I wonder how much he's prepared to bet? ;)

Consumer adoption wont be a problem. But I see regulation being a major roadblock. Imagine the complexity of allowing some self driving cars with other mostly regular cars... there will be all sorts of debates on safety,control and hacking etc. All it would take is one bad accident involving a self driving car (and we know initial softwares can be buggy) and it would immediately slow down everything.

Agree, disasters in the making. A great parallel to this was when the wall came down in Germany. Trabants/Wartburgs and Porsche/BMW's driving alongside on the Autobahns post-reunification was disastrous. Between safety, the required near 100% reliability and infrastructural changes, this is a long tail event.

I see those risks, but I don't agree.   First, it's not complex to imagine driven and driverless cars sharing the roads so long as they confirm to the same crash test standards (which Porsches and Trabants manifestly do not).   Second, the technology will have to be proven but existing drivers are not 100% reliable and it is quite possible that driverless cars will prove safer than driven cars quite quickly.   Third, early adopters (whether it's Uber or vehicles at fairgrounds or whatever) will get people used to the idea quite fast.   And finally, there are *huge* potential cost and productivity savings - imagine the work that could be done (or the sleep that could be had) during the commute! 

I don't see what infrastructure would need to change.   I don't see a demand for 100% reliability, just a significant increase in safety over the current drivers.   I don't see that one crash will hold things up any more than the Titanic stopped people using ocean liners.   (In fact I don't see why "my driverless cars saved my life" stories won't be just as prominent.)   Remember when people said no-one would put their credit card details online?   How many people don't do that today?   I think people have a good innate sense of when the reward exceeds the risk.

I'm not suggesting there will be no hurdles but I come back to the fact that this is a clear leap forward that demand will be significant and I believe plenty of jurisdictions will develop regulations quite quickly.

P
« Last Edit: April 30, 2015, 06:38:34 AM by petec »

Jurgis

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Re: Buffett/Berkshire - general news
« Reply #99 on: April 30, 2015, 11:45:28 AM »
OT.

I completely agree with Petec.
"Before you can be rich, you must be poor." - Nef Anyo
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